FYI | May 31 2013
By Rudi Filapek-Vandyck, Editor FNArena
I joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently. Twitter allows me to follow news and commentary sources such as Dow Jones' Marketwatch, Bloomberg News and the Wall Street Journal. It assists me in keeping up with what is happening across the globe, while I am observing and analysing financial markets myself.
While I am on Twitter, reading a quote here and a news flash there, I offer my own succinct insights and commentary. Those amongst you who have already discovered the virtues of a Twitter account can add my Tweets to their daily news via @filapek.
For those who have no intention to join Twitter, but would like to stay up to date, below are my Tweets from the week past:
– Falling #gold price puts Oz Gold Miners under pressure, finds Citi. BDR and MML seen as most likely equity raising candidates #equities
– What the..? #China #ironore price fell by US$1.30 or 1.2% to US$111.60 a tonne – a fresh eight month low
– Overnight #commodities price action mixed, #China import #ironore negative standout with fall of US$4.90, 4.3%, to US$112.90, lowest 8 mnths
– CBA suggests #ironore prices may be weaker in second half 2013, earlier than expected, and even as some Chinese mills restock #commodities
– Barclays: “a 6 per cent decline in Aussie dollar has about same impact on growth as 100 basis point cut cash rate.” http://www.afr.com/p/markets/market_wrap/falls_below_us_GA5Q0PPDPaPYtQUglqKB4O …
– My view on what likely lies ahead for #resources stocks in the years ahead http://goo.gl/jDCaZ #commodities #equities
– UBS points out continuously weakening AUD will have beneficial impact on divs USD-reporting Oz energy stocks, incl Woodside (#WPL) #equities
– BA-ML maintains: #gold is pausing, uptrend is not broken. Price forecasts lowered, but still higher prices anticipated in years ahead
– Dow has now rallied for 20 consecutive Tuesdays. Longest streak since 1968's 24 Wednesdays sans interruption. 1927 saw 15 Tuesday rallies
– #China import #ironore Fines Fe62% fell yet another US$3.10 to US$117.80/tonne, -2.56%. Fall of 12% in past week
– #China import spot #ironore continues to reveal weakness. Last traded price US$120.90/tonne, down US$2.30 or 1.87%
– Citi US strategists report "several indicators" suggest the next 6 months won't be as rewarding for investors as the past 6 months #equities
– Citi lifts ASX200 yr-end target 5400 from 5200, to 5600 for mid-2014 as FY14 earnings supported by cost cutting, lower AUD, rates #equities
– St George Bank: forecast AUD/USD at 1.02 end 2013, 1.00 end 2014 on later stimulus pullback US Fed, rel strength Oz econ, stronger China 3/3
– St George Bank: believe the Fed will not seriously consider pulling back stimulus until later than currently anticipated by markets 2/3
– St George Bank: notion that Fed could start unwinding asset purchases within a few months is premature #investing 1/3
– BA-ML suggests "this time is different" and AUD will not recover swiftly from its sharp sell-off during the week past
– Deutsche Bank suggests #China spot #ironore prices could fall an additional USD10-15/t over the next two months on enhanced ore availability
– Macquarie strategists stick to their guns: growth stocks starting offer better risk/reward than yield stocks as #equities dynamics shifting
– UBS downgrades #China’s GDP growth forecast to 7.7% from 8% 2013 and to 7.8% 2014 as structural reform remains in focus instead of stimulus
– Citi believes Santos' (#STO) LNG schedule is going to surprise the market on timing and maybe costs. Stock is broker's Top Pick in sector
– Citi now forecasts "lower AUD for longer" which implies RBA probably done with cutting rates due to risk of increase tradeables inflation
– JP Morgan lowers global GDP estimates and lifts supply forecasts. Result (again) lower #commodity prices forecasts. AUDUSD estim 1.00 yr-end
You can add my regular Tweets on Twitter via @filapek
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